Does LightStream do a hard inquiry? This question is about LightStream

Does LightStream do a hard inquiry?

Answer Question Report Abuse

This question is about LightStream

Rick Bormin, Personal Loans Moderator

@rhandoo2020 • 01/30/23 This answer was first published on 11/10/21 and it was last updated on 01/30/23.For the most current information about a financial product, you should always check and confirm accuracy with the offering financial institution. Editorial and user-generated content is not provided, reviewed or endorsed by any company.

Permalink Report Abuse

Yes, LightStream does a hard credit inquiry when you apply for a loan. This credit report inquiry will likely drop your credit score by about 5 to 10 points, but you'll be able to get back on track with a few months of on-time payments.

LightStream's hard inquiry will stay on your credit report for two years, but it won't affect your credit after one year, and the impact may subside before then. To see how your individual credit score may be affected by a hard inquiry, you can use the credit score simulator on WalletHub.

If you're looking for a lender that does not do a hard inquiry at all, you could consider Opploans and NetCredit.

Answer Question

What credit score do you need for a LightStream personal loan?

Applicants need a credit score of 660 to get a personal loan from LightStream, according to multiple third-party sources. That means the LightStream personal loan credit score requirement is in the fair credit range. To put this in perspective, most other lenders' credit score requirements for personal loans range between 585 and 700.

Keep in mind that just having a 660 credit score is not enough to qualify you for a LightStream personal loan....

read full answer

How long does it take to get money from a LightStream personal loan?

It takes 1 to 2 business days to get money from a LightStream personal loan, in most cases. That includes both the time it takes to get approved and the time it takes for the funds to be delivered after approval. Keep in mind that this is a typical applicant's experience, and in some cases it could take longer.

How to Get Money From LightStream as Fast as Possible

Fill out the...

read full answer

Does a LightStream personal loan affect your credit score?

Yes, a LightStream personal loan does affect your credit score, both when you apply and during the entire time that you are paying the loan off. Initially, a LightStream personal loan will affect your credit score in a negative way, but the long-term impact can be very positive, assuming you repay the loan on schedule.

How a LightStream Personal Loan Affects Your Credit Score

Hard pull: When you apply for a LightStream personal loan,...

read full answer

WalletHub Answers is a free service that helps consumers access financial information. Information on WalletHub Answers is provided “as is” and should not be considered financial, legal or investment advice. WalletHub is not a financial advisor, law firm, “lawyer referral service,” or a substitute for a financial advisor, attorney, or law firm. You may want to hire a professional before making any decision. WalletHub does not endorse any particular contributors and cannot guarantee the quality or reliability of any information posted. The helpfulness of a financial advisor's answer is not indicative of future advisor performance.

WalletHub members have a wealth of knowledge to share, and we encourage everyone to do so while respecting our content guidelines. This question was posted by WalletHub. Please keep in mind that editorial and user-generated content on this page is not reviewed or otherwise endorsed by any financial institution. In addition, it is not a financial institution’s responsibility to ensure all posts and questions are answered.

Ad Disclosure: Certain offers that appear on this site originate from paying advertisers, and this will be noted on an offer’s details page using the designation "Sponsored", where applicable. Advertising may impact how and where products appear on this site (including, for example, the order in which they appear). At WalletHub we try to present a wide array of offers, but our offers do not represent all financial services companies or products.

Ask a Question

140

Ask Question

Ask Your Question

WalletHub Transparency

We are committed to being fully transparent with our readers. Opinions expressed here are the author’s and/or WalletHub editors'. WalletHub editorial content on this page is not provided, commissioned, reviewed, approved or otherwise endorsed by any company. In addition, it is not any company’s responsibility to ensure all questions are answered.